Written by ForexBrokers.com
In this head to head comparison of IC Markets vs IFC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2007, IC Markets stands out in the online brokerage landscape with a solid Trust Score of 84, affirming a 'trusted' status from ForexBrokers.com. This ensures clients have a reliable trading partner. While not publicly traded or a bank, IC Markets' credibility is strengthened by its possession of two Tier-1 licenses, which are highly trusted by industry standards. This positions it as a go-to choice for those seeking assurance in their trading activities.
In contrast, IFC Markets, established a year earlier in 2006, holds a Trust Score of 73, which lands it in the 'average risk' category. This broker, also not publicly traded or a bank, offers one Tier-2 license, indicating a level of trust but slightly lower than that of Tier-1. While both brokers present viable online trading solutions, IC Markets may appeal more to those prioritizing licensing authority and trust scores.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Year Founded | 2007 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 0 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing the commissions and fees of online brokers IC Markets and IFC Markets, there are unique features to consider with each. IC Markets is renowned for its competitive trading costs, earning a five-star rating for commissions and fees. Its account options include the commission-free Standard account and two commission-based accounts, namely the Raw Spread and cTrader Raw Spread accounts, which are suited for different trading platforms. IC Markets provides tight spreads, with the EUR/USD averaging 0.02 pips. When you add the commission, the total cost is 0.62 pips for cTrader accounts and 0.72 for MetaTrader. High-volume traders may also benefit from discounts if they trade more than 100 standard lots per month. This cost-effective approach has resulted in IC Markets being ranked 5th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
On the other hand, IFC Markets offers competitive rates of its own and receives a solid four-star rating for commissions and fees. However, it lacks the detailed average spread information that IC Markets provides. Despite this, the ranking for IFC Markets stands at 39th out of 62 brokers according to ForexBrokers.com, highlighting that while they offer respectable services, they may not be as competitive as IC Markets in terms of pure cost-effectiveness.
In summary, IC Markets stands out as a cost leader with its low trading costs and flexible account structure, offering services that cater to both novice and active traders. IFC Markets presents a viable alternative but may not offer the same level of cost transparency, which can be a deciding factor for many traders looking to minimize their trading costs.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | $200 | $1 |
| Average Spread EUR/USD - Standard | 0.62 | 1.44 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and IFC Markets both provide opportunities for forex trading through CFDs or spot contracts, allowing traders to engage in the currency market according to their preferences. IC Markets distinguishes itself with an impressive offering of 3,583 tradeable symbols, including 61 forex pairs, providing a wide array of options for traders. In comparison, IFC Markets offers 630 tradeable symbols and 49 forex pairs, slightly limiting the selection for those looking for a broader variety of trades. Both brokers, however, do not offer exchange-traded securities on U.S. exchanges, but they support trading on international exchanges, enabling clients to purchase shares like Vodafone on the London Stock Exchange.
Both IC Markets and IFC Markets facilitate crypto derivatives trading, though they do not allow for the purchase of actual cryptocurrencies. Additionally, each broker supports copy trading, offering tools for traders to mimic the strategies of successful investors. In terms of investment range, IC Markets receives a commendable rating of 4.5 stars and is ranked 25th out of 62 brokers by ForexBrokers.com. Meanwhile, IFC Markets has a 3.5-star rating and holds the 43rd position. These rankings highlight the broader investment capabilities available at IC Markets for those seeking diverse market exposure.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 630 |
| Forex Pairs (Total) | 61 | 49 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
IC Markets and IFC Markets are popular online brokers, both offering a range of trading platforms and tools suitable for traders of various skill levels. IC Markets provides a free virtual demo account, similar to IFC Markets, allowing traders to practice without financial risk. Unlike IC Markets, IFC Markets has developed its own proprietary platform, giving it a unique touch. Both brokers offer Windows-based desktop platforms and web-based platforms, catering to the preferences of different traders. Additionally, they both support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), widely used platforms popular for their comprehensive features. While copy trading is available with both, only IC Markets supports ZuluTrade, expanding its copy trading options.
Both IC Markets and IFC Markets provide comprehensive charting tools with 15 drawing tools for each. They allow trading directly from stock charts, making the process more intuitive. Their watch lists feature seven columns, offering traders detailed insights into market trends. In terms of performance as rated for trading platforms and tools, both brokers receive a solid rating of four stars. However, IC Markets ranks higher in the category, positioned at number 17 out of 62 brokers by ForexBrokers.com, compared to IFC Markets, which is ranked at number 36. This distinction highlights the slightly enhanced offerings and execution that IC Markets provides in the trading platforms and tools category.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing IC Markets and IFC Markets for their mobile trading apps, both brokers offer impressive functionality for iPhone and Android users. They provide essential features such as stock and forex price alerts, the ability to draw trendlines on charts, and viewing multiple time frames like daily or intraday. Both platforms also allow users to create watchlists with real-time quotes, and auto-save chart drawings, enhancing the user experience on the go. Each app also supports 30 technical studies for charting, giving traders ample tools to analyze market trends effectively.
One noticeable difference, however, is that IFC Markets supports watchlist symbol syncing, ensuring seamless updates between the mobile app and the online account. This feature is absent in IC Markets' app. Despite this, both apps are well-regarded, each earning a respectable 4-star rating. In ForexBrokers.com's ranking of mobile trading apps, IC Markets stands out slightly more, taking the 22nd position out of 62, compared to IFC Markets at 52nd place, reflecting a slightly higher user preference or broader feature set overall from the user feedback standpoint.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IC Markets and IFC Markets in terms of market research, both brokers provide daily market commentary and offer sentiment-based trading tools, helping traders gauge overall market direction. However, IC Markets stands out by offering forex news from top-tier sources like Bloomberg and Reuters, providing traders with timely and reliable market insights. In contrast, IFC Markets does not extend such a feature. Furthermore, IC Markets enhances its research arsenal with tools from Autochartist and Trading Central, offering users a variety of technical and fundamental analysis options that are not available with IFC Markets.
Additionally, both brokers include an economic calendar that highlights upcoming global economic events, ensuring traders stay informed. Despite some similarities, IC Markets is rated slightly higher for research with a 4-star rating compared to IFC Markets' 3.5 stars. This positions IC Markets at #22 in the Research category according to ForexBrokers.com, while IFC Markets is ranked at #40, showcasing the broader range of research resources and analysis tools available to IC Markets users.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both IC Markets and IFC Markets provide a solid foundation, offering more than ten educational pieces focused on forex and CFDs. IC Markets shines with its commitment to online learning by hosting monthly webinars and maintaining a searchable archive of recorded sessions, allowing learners to revisit concepts at their convenience. In comparison, IFC Markets does not currently offer such webinars or archives, which might limit real-time learning opportunities for their clients.
Both brokers ensure comprehensive educational offerings with over ten videos designed specifically for beginner traders, a feature that caters well to those new to trading. Additionally, both platforms offer a glossary with over fifty key investing terms, helping to demystify trading jargon for users. While both brokers provide advanced videos for more experienced traders, IC Markets scores higher, rated at four stars for education compared to IFC Markets' 3.5 stars. According to ForexBrokers.com, IC Markets holds the 16th position in the Education category among 62 brokers, highlighting its superior educational offerings, while IFC Markets is ranked at 30th, indicating some room for improvement in its educational services.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IC Markets is better than IFC Markets. IC Markets finished with an overall rank of #20, while IFC Markets finished with an overall rank of #45.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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IFC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and IFC Markets do not offer the ability to buy actual cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
When comparing IC Markets and IFC Markets for online trading, IC Markets stands out by offering PayPal and Skrill as deposit and withdrawal options, while both platforms provide Visa, Mastercard, and bank wire transfers, yet neither supports ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IC Markets | IFC Markets | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | IFC Markets | |
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| Regulation | IC Markets | IFC Markets | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| Year Founded | 2007 | 2006 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 0 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | IFC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | IFC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | IFC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 630 | |
| Forex Pairs (Total) | 61 | 49 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IC Markets | IFC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.44 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | IFC Markets | |
|---|---|---|---|
| Minimum Deposit | $200 | $1 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | IFC Markets | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | IFC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | IFC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | IFC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | IFC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | IFC Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IC Markets Review |
| Overall | IC Markets | IFC Markets | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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